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SDCT Annual Meeting 2008 ‘ Getting the budget basics right in a changing environment ’

SDCT Annual Meeting 2008 ‘ Getting the budget basics right in a changing environment ’. Friday 5 th December. Overview. Framework Possible budget issues Expenditure Income Next year Future years Robust Budget. Framework. Use of Resources Service & Financial Planning Priorities

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SDCT Annual Meeting 2008 ‘ Getting the budget basics right in a changing environment ’

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  1. SDCT Annual Meeting 2008‘Getting the budget basics right in a changing environment’ Friday 5th December

  2. Overview • Framework • Possible budget issues • Expenditure • Income • Next year • Future years • Robust Budget

  3. Framework • Use of Resources • Service & Financial Planning • Priorities • Members • Wider understanding • Scrutiny opportunities • Public Communications

  4. Expenditure – Next Year • Fuel costs – 2p increase in duty • Energy costs • Homelessness • Concessionary travel • Revenues & Benefits • Possible increase in staffing (workload) • Hardship relief • Discretionary rate relief

  5. Expenditure – Next Year • Inflation assumptions • Pay award • Built into contracts • Cost of borrowing • Reduced construction costs

  6. Expenditure – Future Years • Pension fund • On-going contributions • Backfunding • National Insurance increase • Crematorium – Mercury abatement • Abandon vehicles • Environmental Health - Enforcement costs • Stray dogs

  7. Income – Next Year • Investment returns • Land charges • Commercial property rents • Planning applications • Building control • Parking • Recycling

  8. Income – Next Year • LA error possible effect on subsidy • VAT changes – pass on or keep • Collection rates • Tax base • Bad debts • Reduced cash flows

  9. Income – Future Years • Capital Receipts • LABGI • HPDG • Section 106 • Government Grant – Efficiency savings

  10. Robust Budget Remember that Section 151 to confirm

  11. Robust Budget • Sensitivity Analysis • Be clear on assumptions made • What if scenarios • Best case, Central case & Worst case • Use of once off sources of funding • Risk based assessment of reserves

  12. SDCT Annual Meeting 2008‘Getting the budget basics right in a changing environment’ Friday 5th December

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